Companies Venture Global, Inc.
Venture Global (VG): executive pay, fiscal 2025
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CEO pay, last three years
- $33,581,816FY2023
- $36,285,182FY2024
- $39,104,905FY2025
CEO total pay was $39,104,905 in fiscal 2025, up from $36,285,182 in fiscal 2024.
FY2025: salary $7,432,392 · bonus $28,000,000 · stock awards $0 · option awards $0
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Sabel | $7,432,392 | $28,000,000 | $0 | $0 | $0 | $0 | $3,672,514 | $39,104,905 |
| Chief Executive Officer, Executive Co-Chairman and Founder | ||||||||
| Robert Pender | 3,432,392 | 9,000,000 | 0 | 0 | 0 | 0 | 51,484 | 12,483,876 |
| Executive Co-Chairman and Founder | ||||||||
| Thomas Earl | 1,500,000 | 7,587,500 | 0 | 0 | 0 | 0 | 36,000 | 9,123,500 |
| Chief Commercial Officer | ||||||||
| Jonathan Thayer | 1,500,000 | 7,562,500 | 0 | 0 | 0 | 0 | 21,060 | 9,083,560 |
| Chief Financial Officer | ||||||||
| Keith Larson | 1,500,000 | 7,062,500 | 0 | 0 | 0 | 0 | 21,060 | 8,583,560 |
| General Counsel and Secretary | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Michael Sabel | $39,104,905 | $36,285,182 | $33,581,816 | ↑ +2,819,723 |
| Robert Pender | 12,483,876 | 28,531,384 | 28,536,219 | ↓ −16,047,508 |
| Thomas Earl | 9,123,500 | 6,379,575 | 6,357,640 | ↑ +2,743,925 |
| Jonathan Thayer | 9,083,560 | 6,333,949 | 5,395,150 | ↑ +2,749,611 |
| Keith Larson | 8,583,560 | 6,333,951 | 5,520,150 | ↑ +2,249,609 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company strives to be a leader in compensation relative to industry peers by paying above-market total compensation to attract and retain top talent. The program emphasizes significant pay at risk through cash and equity incentives tied to key project-based milestones, financial performance, and individual goals, while aligning executive interests with stockholders and managing risk.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co., Inc. |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Jonathan Thayer | Option | 565,051 | 3.39 | — |
| Thomas Earl | Option | 565,051 | 3.39 | — |
| Keith Larson | Option | 565,051 | 3.39 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Andrew OrekarIndependent · Audit (Chair) | $295,000 | — | $199,999 | — | — | $494,999 |
| Jimmy StatonIndependent · Audit | 265,000 | — | 199,999 | — | — | 464,999 |
| Thomas J. ReidIndependent · Compensation | 265,000 | — | 199,999 | — | — | 464,999 |
| Sari GranatIndependent · Nominating and Corporate Governance | 265,000 | — | 199,999 | — | — | 464,999 |
| Roderick ChristieIndependent · Audit | 265,000 | — | 199,999 | — | — | 464,999 |
Board fee structure and ownership guideline
| Annual cash retainer | $240,000 |
|---|---|
| Annual equity retainer | $200,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 50,000 / 40,000 / 40,000 |
| Stock ownership guideline | — |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,355,000 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $1,355,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Venture Global as a peer
Companies that benchmark against VG
1 company names VG as a compensation peer
- NextDecade CorpNEXTFY2025
Each company listed discloses VG in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named VG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Venture Global, Inc. | 2025 | Michael Sabel | $7,432,392 | $0 | $0 | $0 | $39,104,905 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (13 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Michael Sabel. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 39,104,905. View filing ↗
- Section 01, Robert Pender. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 12,483,876. View filing ↗
- Section 01, Thomas Earl. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 9,123,500. View filing ↗
- Section 01, Jonathan Thayer. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 9,083,560. View filing ↗
- Section 01, Keith Larson. DEF 14A, filed 2026-04-08. Section “Executive Compensation”. As printed: 8,583,560. View filing ↗
- Section 08, Andrew Orekar. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 494,999. View filing ↗
- Section 08, Jimmy Staton. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 464,999. View filing ↗
- Section 08, Thomas J. Reid. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 464,999. View filing ↗
- Section 08, Sari Granat. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 464,999. View filing ↗
- Section 08, Roderick Christie. DEF 14A, filed 2026-04-08. Section “Director Compensation”. As printed: 464,999. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 09b board cost (computed). Computed. Cash 1,355,000 + equity 0 + all other 0 = 1,355,000, summed across the director compensation table rows.
- Venture Global, Inc. (subject), Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Venture Global, Inc.'s own proxy. As printed: 39,104,905. View filing ↗